Avoid Being Scammed by Your Movers!

In case you missed it this morning, NBC guest Real Estate Expert Barbara Corcoran talked about how to avoid being scammed by your moving company along with some do's & don'ts when hiring a mover. Well worth the read or watch the video clip:

http://today.msnbc.msn.com/id/29972260/from/ET/

The Week that Was - Basking Ridge Home Sales for 3/23-3/29

Basking Ridge Homes that sold during the week of 3/23-3/29:

• 241 Arrowood Way / Sold: $365,000 / List: $379,999 / 2 Bed. 2.1 Bath


• 24 Valley View Drive / Sold: $387,500 / List: $409,000 / 2 Bed. 2.1 Bath


• 110 Lyons Road / Sold: $440,000 / List: $499,000 / 3 Bed. 2 Bath


• 50 Quincy Road / Sold: $660,000 / List: $689,000 / 4 Bed. 2.1 Bath


• 71 Baltusrol Way / Sold: $1,535,000 / List: $1,699,999 / 4 Bed. 5.1 Bath

*All information Deemed Reliable, but not Guaranteed*

Don’t be one of the People who say “I should have bought in 2009″

"IF A WINDOW OF OPPORTUNITY APPEARS, DON'T PULL DOWN THE SHADE." Tom Peters. And at the last meeting, the Fed saw their regularly scheduled meeting as a window of opportunity to make a blockbuster announcement.
Recently, the Fed announced that over the course of 2009, they will purchase an additional $750 Billion of Mortgage Backed Securities, as well as $300 Billion in long-term Treasuries, primarily to help shore up the housing market and keep home loan rates low. On the announcement, Bonds exploded higher, leaving Bond prices within whiskers of the best levels ever.
However, it's important to understand that while their actions may keep a lid on rates moving higher, they may not cause them to move dramatically lower. Additionally, due to many understaffed lenders and investors currently working at maximum capacity, we could once again see that improvements in Bond pricing may not all be passed through to our rate sheets.
Another factor that could impact whether Bonds and rates see significant improvement ahead are concerns of future inflation - the arch enemy of Bonds and home loan rates - brought on by all the recent aggressive moves by the Fed. While we know there is little inflation at the present time, the chatter of future inflation could have a negative impact on Bonds and home loan rates, or at least stifle any improvements.
Although the media is already spinning it differently, this is not a time to stay on the fence, hoping and waiting for lower rates. Home loan rates remain within inches of all-time historic lows, but may not necessarily move significantly lower based on this purchasing plan - waiting is a very risky move.
More good news last week, as Housing Starts for February came in better than expected and actually increased for the first time in eight months. In addition, Fed Chairman Bernanke stated the recession should end in 2009 and that he is confident of the long-term outlook for the US economy.
Also, an update on Mark-to-Market - the accounting rule which has had a devastating impact on the financial markets - which we have discussed many times, including in last week's issue. The Financial Accounting Standards Board (FASB) agreed that it will propose to allow companies to use more "leeway" in applying the accounting rules they use to value their assets, and planned a final vote for April 2nd. If this rule change is approved, it could result in better first-quarter financial statements for companies that have been affected by this rule. Stocks have been moving higher lately in the hopes that Mark-to-Market will be fixed, and a resolution could help Stocks further improve.

Existing Home Sales Rose Nationwide for February

Nationwide, Existing Home Sales rose in February by 5.1% according to the National Association of Realtors. This brings the "seasonally adjusted annual rate to 4.72 million units in February from a pace of 4.49 million units in January, but are 4.6 percent below the 4.95 million-unit level in February 2008," NAR reported.

The Basking Ridge Real Estate Market, did not reflect the broader trend of the nation. Sales for Basking Ridge continued to slump with only 7 units closing. On the brighter side, properties going Under Contract, a more forward looking indicator, rose to 18 for the month of February.

For more statistical data and real estate resources, go to "The Norrod Team.com".

To view the National Association of Realtors full report, click here.

Basking Ridge Real Estate - Forgotten Fact

With the current economical and housing crisis occurring throughout the country, many people can't see the forest for the trees. We have forgotten that the Basking Ridge Real Estate Market is just that, a market. It will see increases and corrections, but over the long term it will rise. Case in point, the Basking Ridge Real Estate Market according to Jeff Otteau of the Otteau Valuation group rose by 139% from the spring of 1998 to the spring of 2008. While prices continued to decline through '08, about 7.5%, and are forecasted to decline in '09, about 7-8%; this is still not a bad return on your investment over the decade plus.

Contact "The Norrod Team" for more information about Basking Ridge Real Estate.

Moving Tip of the Week - Moving Time Line: 1 Day Before Your Move

Whether you bought a Basking Ridge home or are leaving the area, start planning early for your move.

1 Day Before Your Move . . .

• Keep moving materials separate so they don't get packed until you are finished.
• Create a box / bag / container for extra and specialty pieces. (E.g. remote controls, extra phones, extra pieces from furniture disassembly, etc.)
• Make sure you have all travel documents needed for yourself, family, and pets.
• Confirm moving arrangements with your moving company.
• If driving to your new home, fill up your car with gas and check your oil and tires.
• Try and get a good night's rest! You will soon be there!

For more information check out TheNorrodTeam.com.

Moving Tip of the Week - Moving Time Line: 1 Week Out

Whether you bought a Basking Ridge home or are leaving the area, start planning early for your move.

1 Week Before Your Move . . .

• Work with children/dependents on farewells meetings with their friends, school chums, etc.
• Confirm move date with Seller of your new home.
• Confirm moving arrangements and date with your Moving Company.
• Pack a "Moving-In Supply Box" including cleaning products, plastic products, emergency phone numbers, paper towels, toilet paper, batteries, etc.
• Label items that you need to access quickly/easily and place them in a separate room/area. (Remember that items packed and loaded last will be first off the truck!) Be sure to keep your "Moving-In Supply Box" in that separate area. If not with you directly, that should be the last box on the truck.
• Clean your refrigerator and let it air out for at least 24 hours if you are moving it.
• Prepare outdoor equipment (grills, lawn mowers, snow blowers, etc.) for move.
• Remove paints, aerosols, and flammable/toxic chemicals.

For more tips go to TheNorrodTeam.com.